Located in central London UCLH is a PPP hospital providing new acute healthcare facilities with an in-patient capacity of 669 beds.
- Social Infrastructure
University College London Hospital (“UCLH”)
- Dalmore Capital Fund
Case study overview
The building consists of 3 main parts; the Main Tower Building of 17 stories and the Podium and EGA Maternity Wing both of 5 stories. The project achieved financial close in 2000, with construction being completed in 2 phases across 8 years. At the time of construction the hospital was one of the highest specification NHS buildings in the UK and remains a flagship NHS facility.
Construction was undertaken via a joint venture between Balfour Beatty and AMEC. Facilities management services include the provision of both Hard and Soft services which are delivered by Mitie. The concession runs for a period of 40-years expiring in July 2040.
Sector
Social Infrastructure – HealthFund
Dalmore Capital Fund, Co-investmentsFirst Investment date
June 2012Shareholding
60.0%
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Investment strategy
How we invest
For the past 14 years Dalmore has focused on investing in infrastructure that provides services critical to the functioning of society.
Through disciplined selection Dalmore funds have invested in lower volatility assets without significant exposure to GDP, traffic, usage or market price risk. Geographically Dalmore’s focus remains the UK, although we also manage assets in Europe and North America.
Looking forward, the UK mid-market core and core-plus segment continues to be our main focus, which we believe offers opportunities where disciplined underwriting, a thorough analysis of market exposure and local market expertise may support attractive risk-adjusted returns.